(Section scheduled to be repealed on September 15, 2045) Sec. 20-15. Clean Energy Jobs and Justice Fund. (a) Not later than 30 days after the effective date of this Act, there shall be incorporated a nonprofit corporation to be known as the "Clean Energy Jobs and Justice Fund". (b) The Fund shall not be an agency or instrumentality of the State Government. (c) The full faith and credit of the State of Illinois shall not extend to the Fund. (d) The Fund shall: (1) Be an organization described in subsection (c) of Section 501 of the Internal Revenue Code of 1986 and exempt from taxation under subsection (a) of Section 501 of that Code; (2) Ensure that no part of the income or assets of the Fund shall inure to the benefit of any director, officer, or employee, except as reasonable compensation for services or reimbursement for expenses; and (3) Not contribute to or otherwise support any political party or candidate for elective office. Section 501 of the Internal Revenue Code of 1986 and exempt from taxation under subsection (a) of Section 501 of that Code; the Fund shall inure to the benefit of any director, officer, or employee, except as reasonable compensation for services or reimbursement for expenses; and political party or candidate for elective office.
‹ Prev All Illinois sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.